The first and the most important step to buying a home is to talk to a mortgage broker or bank so you know how much you can afford to borrow, as well as the repayments. Typically 5 to 20 percent of the purchase price is required, depending on the loan terms. Your income, current monthly expenses, deposit and the current interest rates will determine how much you can borrow. Remember to take into account the other expenses such as moving, insurance, etc. It is always a good idea to talk to several lenders to compare costs and interest rates and to negotiate a better deal.

Start here to carry out official inquiry about prices and housing styles in different areas. Our website is particularly useful to compare prices and villas, and also if you are moving between countries, for example.

Once you find a home you like, check what type of title the property has: freehold, leasehold, etc.With leasehold properties, check the duration of the lease and the annual land rent. With condominiums, check whether the property has a corporate body or other associated fees.

Buying property at auction is an incredibly exciting and profitable way to purchase property. First, register your interest with the real estate agent in advance, and get pre-approved finance. If you are the successful bidder, the contract will be guaranteed. Secondly, make sure you have the funds available to pay a deposit on the auction day. Remember to carry out the necessary checks before the auction.

When you have reached an agreement with the seller of the property, a deposit will be payable. This is usually around 10% of the purchase price. Until the offer has been signed, you should not give the earnest money deposit to the seller. Otherwise, if something goes wrong with the deal, you could find yourself in a situation where your earnest money deposit is held by the escrow and you cannot reach an agreement with the seller. Deposits are held in the real estate agent or lawyer\'s trust account for a minimum of ten working days.